Industry News 12/1/2006

Collective Licensing Inks License Renewal Agreement With Payless Shoesource for Airwalk® Brand

Collective Licensing Inks Longterm License Renewal Agreement With Payless Shoesource for Airwalk® Brand

(ENGLEWOOD, CO) – December 1, 2006  – Building on the “house of brands” strategy initiated by Payless ShoeSource CEO Matt Rubel when he joined the company in July 2005, Collective International, LLC, owner of Airwalk®, announced today that it has renewed its licensing partnership with the Topeka, KS-based retailer to market the leading youth lifestyle brand in Payless doors.   The renewal agreement extends the retailer’s current license for Airwalk® branded footwear and related accessories through 2014 with an option to renew for an additional five year period.

Airwalk will be sold in Payless doors globally and online at Payless.com®. Airwalk is one of the retailer’s best selling and most recognized youth lifestyle brands.

“Airwalk has been very successful as a brand, and the team at Collective has become a valued partner in creating and maintaining a cool and relevant brand for our customers,” said Matt Rubel, President and CEO of Payless ShoeSource. “Airwalk really captures a niche with the customer seeking youth lifestyle footwear and accessories because of the brand’s innovative designs, authentic heritage, and compelling marketing.”

“Payless positions Airwalk as a flagship youth lifestyle brand year round,” said Bruce Pettet, President and CEO of Collective. “The success of Airwalk in Payless is a direct result of an excellent partnership that will continue to grow both the Airwalk and Payless brands.”

About Collective

Collective was formed in January 2004 and is the owner and license operator of the Airwalk®, Sims Snowboards®,  Genetic™, Vision Street Wear®,  Lamar® and LTD®, Dukes®, Rage®, Ultra-Wheels® and Skate Attack® brands.  Collective is based in Englewood, Colorado. 

About Payless ShoeSource

Payless ShoeSource, Inc., the largest specialty family footwear retailer in the Western Hemisphere, is dedicated to democratizing fashion and design in footwear and accessories to inspire fun fashion possibilities for the family.  As of the end of the third quarter 2006, the Company operated a total of 4,574 stores.  In addition, customers can buy shoes over the Internet through Payless.com® at http://www.payless.com.